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SEPA Instant Credit Transfer Scheme Rulebook ... SEPA Instant Credit Transfer Scheme Rulebook 2 / 88

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  • SEPA Instant Credit Transfer Scheme Rulebook

    www.epc-cep.eu 1 / 88

    E19 Version 8.3 Date issued: 24 November 2016 Date effective: 24 December 2016

    European Payments Council AISBL Cours Saint-Michel, 30 - B - 1040 Brussels T +32 2 733 35 33 Entreprise N°0873.268.927 secretariat@epc-cep.eu

    SEPA Instant Credit Transfer Scheme Rulebook

    EPC004-16/ 2019 Version 1.1 / Date issued: 05 March 2020 / Date effective: 01 April 2020

    © 2020 Copyright European Payments Council (EPC) AISBL:

    Reproduction for non-commercial purposes is authorised, with acknowledgement of the source

  • SEPA Instant Credit Transfer Scheme Rulebook

    www.epc-cep.eu 2 / 88

    EPC004-16 2019 Version 1.1 Date issued: 05 March 2020 Date effective: 01 April 2020 Time effective: 08:00:00.000 CET

    European Payments Council AISBL Cours Saint-Michel, 30 - B - 1040 Brussels T +32 2 733 35 33 Entreprise N°0873.268.927 secretariat@epc-cep.eu

    Table of Contents 0 DOCUMENT INFORMATION ................................................................................................. 6

    0.1 References.................................................................................................................................. 6

    0.1.1 Defined Terms .................................................................................................................. 7

    0.2 Change History ........................................................................................................................... 7

    0.3 Purpose of Document ................................................................................................................ 8

    0.4 About the EPC ............................................................................................................................ 8

    0.5 Other Related Documents ......................................................................................................... 9

    0.5.1 SEPA Instant Credit Transfer (SCT Inst) Scheme Implementation Guidelines ................. 9

    0.5.2 SCT Inst Adherence Agreement ....................................................................................... 9

    1 VISION & OBJECTIVES ......................................................................................................... 10

    1.1 Vision ........................................................................................................................................ 10

    1.2 Objectives ................................................................................................................................. 10

    1.3 Commercial Context for Users and Providers of Payment Services ........................................ 10

    1.4 Conceptual work flow of an SCT Inst ....................................................................................... 11

    1.5 Binding Nature of the Rulebook .............................................................................................. 13

    1.6 Separation of the Scheme from Infrastructure ....................................................................... 13

    1.7 Other Features of the Scheme ................................................................................................. 14

    1.8 The Business Benefits of the Scheme ...................................................................................... 14

    1.9 Common Legal Framework ...................................................................................................... 15

    2 SCOPE OF THE SCHEME ...................................................................................................... 16

    2.1 Application to SEPA .................................................................................................................. 16

    2.2 Description of Scope of the Scheme ........................................................................................ 16

    2.3 Additional Optional Services .................................................................................................... 16

    2.4 Currency ................................................................................................................................... 17

    2.5 Value Limits .............................................................................................................................. 17

  • www.epc-cep.eu 3

    SEPA Instant Credit Transfer Scheme Rulebook 2019 Version 1.1

    Date issued: 05 March 2020

    2.6 Reachability .............................................................................................................................. 18

    2.7 Remittance Data ...................................................................................................................... 18

    3 ROLES OF THE SCHEME ACTORS ......................................................................................... 19

    3.1 Actors ....................................................................................................................................... 19

    3.2 The Four Corner Model ............................................................................................................ 20

    3.3 Clearing and Settlement Mechanisms (CSMs) ......................................................................... 21

    3.4 Intermediary Banks .................................................................................................................. 21

    3.5 Governing laws ......................................................................................................................... 21

    3.6 Relationship with Customers ................................................................................................... 21

    4 BUSINESS AND OPERATIONAL RULES.................................................................................. 22

    4.1 Naming Conventions ................................................................................................................ 22

    4.2 Overview of the SCT Inst Process & Time Cycle ....................................................................... 22

    4.2.1 Commencement of the SCT Inst Execution Time Cycle ................................................. 22

    4.2.2 Cut-off Times .................................................................................................................. 23

    4.2.3 Maximum Execution Time ............................................................................................. 23

    4.2.4 Charging Principles ......................................................................................................... 27

    4.3 SCT Inst Processing Flows ........................................................................................................ 27

    4.3.1 SCT Inst Processing Flow (PR-01) ................................................................................... 28

    4.3.2 Exception Processing Flow ............................................................................................. 30

    4.4 Optional SCT Inst Transaction status investigation procedure (PR-03) ................................... 37

    4.5 Business Requirements for Datasets ....................................................................................... 38

    4.5.1 DS-01 Customer-to-Bank Credit Transfer Information .................................................. 39

    4.5.2 DS-02 Interbank Payment Dataset ................................................................................. 40

    4.5.3 DS-03 Confirmation Message ........................................................................................ 42

    4.5.4 DS-04 Bank to Customer credit transfer information .................................................... 42

    4.5.5 DS-05 Recall of an SCT Inst Dataset ............................................................................... 43

    4.5.6 DS-06 Answer to a Recall of an SCT Inst Dataset ........................................................... 44

    4.5.7 DS-07 Dataset for the SCT Inst Transaction status investigation message sent by the Originator Bank ........................................................................................................................... 44

    4.5.8 DS-08 Request for Recall by the Originator Dataset ...................................................... 45

    4.5.9 DS-09 Response to the Request for Recall by the Originator Dataset .......................... 45

    4.6 Business Requirements for Attributes ..................................................................................... 46

    4.6.1 Attribute Details ............................................................................................................. 48

    5 RIGHTS AND OBLIGATIONS OF PARTICIPANTS .................................................................... 59

  • www.epc-cep.eu 4

    SEPA Instant Credit Transfer Scheme Rulebook 2019 Version 1.1

    Date issued: 05 March 2020

    5.1 The Scheme .............................................................................................................................. 59

    5.2 Compliance with the Rulebook ................................................................................................ 59

    5.3 Reachability .......................................................................................................

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